A MAN has been arrested, his car and a property searched as part of investigations into a coordinated $450,000 fraud syndicate operating on the Central Coast.
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In May, detectives established strike force Forth to investigate the acquisition and use of fraudulent credit cards across the Central Coast.
As part of the investigation, detectives were also conducting inquiries into a break-in at a car dealership at Kariong on March 24, which was suspected to be linked to the fraud syndicate.
During the break-in, three Holden Commodores were stolen by three unknown persons.
Following extensive inquiries, strike force detectives arrested a 45-year-old man in a vehicle at Woy Woy about 8am Tuesday. During a subsequent search of the man's vehicle, police seized $10,000 cash.
Shortly after the arrest, investigators executed a search warrant at a nearby home.
The man was taken to Gosford police station and charged with 22 counts of dishonestly obtain financial advantage etc by deception and dealing in proceeds of crime.
Police will allege in court that the man was involved in the fraudulent application for 22 credit cards, which were subsequently used to purchase goods and cash advances totalling more than $450,000 between July 2018 and April 2019.
He has been refused bail to appear at Gosford Local Court on Wednesday 28 August 2019).
Investigations are continuing, and further arrests are expected.
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